Office
State of NJ Anchored Office Bldg. (Value/Add)
33 Evergreen Pl, East Orange, NJ 07018
Listing Price: $5,050,000
Cap Rate
7.75%
Gross SF
40,866
Rentable SF
40,866
Price/Gross SF
$123.57
Lot Size
0.80 acres
Year Built
1970
Investment Overview
Marcus & Millichap is pleased to exclusively present 33 Evergreen Pl, East Orange, Essex County, New Jersey.
State of NJ Anchored Office Bldg. (Value/Add)
Investment Highlights
- State Of New Jersey Occupies Approximately 69% of the Building on a Lease Extending Through April 2036, Providing Durable In-Place Cash Flow.
- 27% of the Property is Currently Vacant, Allowing an Investor to Lease Remaining Space and Increase NOI by More Than 40%.
- Projected NOI Increases From $391,487 to $553,661 Upon Stabilization, Creating Significant Upside Through Lease-up.
Exclusively Listed By
Listing Price: $5,050,000
Cap Rate
7.75%
Gross SF
40,866
Rentable SF
40,866
Price/Gross SF
$123.57
Lot Size
0.80 acres
Year Built
1970
Investment Highlights
- State Of New Jersey Occupies Approximately 69% of the Building on a Lease Extending Through April 2036, Providing Durable In-Place Cash Flow.
- 27% of the Property is Currently Vacant, Allowing an Investor to Lease Remaining Space and Increase NOI by More Than 40%.
- Projected NOI Increases From $391,487 to $553,661 Upon Stabilization, Creating Significant Upside Through Lease-up.
Investment Overview
Marcus & Millichap is pleased to exclusively present 33 Evergreen Pl, East Orange, Essex County, New Jersey.
Exclusively Listed By
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